Drilling Tools International Corp
For the period ended Sep 30, 2026. Filed Nov 6, 2026.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2026 · Filed Nov 6, 2026
DTI$1.48-6.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Statements of Cash Flows
(UNAUDITED)
| Nine months ended September 30, | ||
|---|---|---|
| (In thousands) | 2026 | 2025 |
| Cash flows provided by (used in) operating activities: | ||
| Net income (loss) | $(5,962) | $(4,978) |
| Adjustments to reconcile net income (loss) to net cash from operating activities: | ||
| Depreciation and amortization | 20,817 | 20,386 |
| Amortization of deferred financing costs | 131 | 261 |
| Non-cash lease expense | 3,919 | 4,014 |
| Unrealized loss (gain) on currency translation | (406) | 740 |
| Write off of excess and obsolete inventory | 51 | 718 |
| Write off of property and equipment | 333 | 251 |
| Provision (recovery) for credit losses | 315 | 619 |
| Deferred tax expense (benefit) | (1,875) | (893) |
| Loss on asset disposal | 380 | 70 |
| Gain on sale of lost-in-hole equipment | (11,424) | (8,380) |
| Stock-based compensation expense | 2,556 | 1,820 |
| Interest income on related party note receivable | (83) | (117) |
| Goodwill impairment | — | 1,901 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable, net | (7,357) | 4,018 |
| Prepaid expenses and other current assets | (3,178) | 1,629 |
| Inventories | (917) | 358 |
| Operating lease liabilities | (3,717) | (3,854) |
| Accounts payable | 4,634 | (4,592) |
| Accrued expenses and other current liabilities | (2,233) | 617 |
| Net cash flows provided by (used in) operating activities | (4,016) | 14,588 |
| Cash flows provided by (used in) investing activities: | ||
| Acquisition of a business, net of cash acquired | — | (5,622) |
| Purchase of intangible assets | (975) | (1,430) |
| Proceeds from sale of property, plant, and equipment | 4,000 | 35 |
| Purchase of property, plant, and equipment | (17,643) | (16,136) |
| Proceeds from sale of lost-in-hole equipment | 13,707 | 10,408 |
| Net cash flows provided by (used in) investing activities | (911) | (12,745) |
| Cash flows provided by (used in) financing activities: | ||
| Investment from non-controlling interest into VIE | — | 12 |
| Proceeds from exercise of stock options | 100 | — |
| Payment of deferred financing costs | (128) | — |
| Purchase of treasury stock | (706) | (1,152) |
| Repayment of term loan | (6,413) | (3,750) |
| Repayment of promissory note | (691) | (673) |
| Proceeds from revolving line of credit | 50,221 | 42,752 |
| Repayment on revolving line of credit | (38,204) | (40,894) |
| Net cash flows provided by (used in) financing activities | 4,179 | (3,705) |
| Effect of changes in foreign exchange rates | 65 | 50 |
| Net change in cash | (683) | (1,812) |
| Cash at beginning of period | 3,648 | 6,185 |
| Cash at end of period | $2,965 | $4,373 |
NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.